Wednesday, April 05, 2006

Shipping: Daewoo secure $769 million dollar contracts for LNG carriers

South Korea's Daewoo Shipbuilding and Marine Engineering, report orders worth US$769 million to build three oil and two liquefied natural gas (LNG) carriers.

The company will build three "very large" crude-oil carriers for a European shipowner in a US$380 million contract and two LNG carriers for a local buyer in a separate US$389 million deal.

Daewoo has a full-year target of US$10 billion for overseas orders.